planning to buy myself a 2013 nissan altima somewhere around June

ive consider buying g37, is350, genesis coupe 2.0t, frs used or new 25-30k~

but it seems like the 2013 altima seems to be the best buy cuz new, fuel efficient and low to 0% interest rate (so it'll be cheaper overall)

ill be turning 20 in july and planning to go to college in September so that's why im deciding with a mid size sedan

Im also considering the 2013 honda accord, but comparing it directly to the altima it loses pretty bad features vs features and price

anyways, your thoughts on it?

I'd personally opt for something faster with how much you'd spend on a brand new altima, but at the end of the day its your money and your happiness so get whatever you want man

also the major decision breaker for me would be if you are doing this with a loan or not.... if your taking our a loan before college I'd probably advise you to buy used over new. Also, the second you drive off the lot your cars value just plummets, so this better be a car that you see yourself having for a long long time.

yeah ive consider a sports car, but in reality it's just not worth it at my age

yeah i will be financing it hopefully at 0% by the time im able to buy, i have 10k saved up already so they will take money away from my savings monthly, that's how im planning to afford everything, i work with my parent's business and im not gonna put money down

i checked out a used infiniti g37 2010 sedan, the price was 30k~ interest was at 6% which totals up the car to 40k~ on a 48 month term and 13% sales tax (i live in toronto, canada) so buying used especially a luxury sedan is not worth it even if used. Even if it is faster xD

yeah i know the price of a used car drops crazy but that's the way it is right? The altima is about 30k with taxes, i can see the car being sold in around 4 years for like 20k~? Not too bad imo.. though i know nissans have a lower resale value than toyota & honda. Nissans dont really keep their value (unless it's a gt-r or 370z :D) I do plan to keep it for a long time though, unless i can afford to switch out cars every 3 years

so I take it your gonna have your parents co-sign then?

You will most likely have no credit if you aren't at least in college yet, so you will probably not qualify for any loans without your parents. If they have a good credit score like 700+ you can definitely qualify for an interest rate under 5%. If you plan on continuing to work for your parents Its definitely a good idea, especially since their not gonna fire you XD
However you will probably need to put down at least 10-20%. If you have no credit (3+ solid years), and don't put down at least 10-20% then there's no way you would ever qualify for a loan. With your parents you could probably get away with a lower down payment.

but just remember that your loan will be linked to your parents credit, if you miss payments or are late, it'll hurt their credit too!

I would have your parents shop around for the car loan. I'm 28, 700+ credit score, and a homeowner and got 2.09% interest on my last used car (in february).

As for losing value, subtract 5k off the car's value the second you drive it off the lot. If you are worried about resale value, I would get a 1 year old or 2 year old car thats "certified" and has a warranty. In 2007 I purchased a 2006 mazda6s with 13k miles on it for like 19.5k, original sticker was like 26,XXX

But, if you are buying it to keep for the long haul, then go for it, nothing like that new car smell and feeling and being able to pick out which color and options you want.

I live in Toronto as well. I had thought about those cars, however I ended up with the G35. In my opinion it looks sharper then the g37, and with the 6MT I still give fairly expensive cars (with people who cant drive) a run for their money.

just buy a Honda civic for 3k and call it a day.

This post was edited by immunity on May 8 2013 07:26pm